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Desjardins Cash Back MasterCard Review
26 Jan 2019

Desjardins Cash Back MasterCard | Credit Card Review

Credit cards can provide good rewards or good benefits, but very rarely do they provide both. This Desjardins Cash Back MasterCard review will tell you more about a card that might just let you have your way on this matter after all.

Get a basic cash back card with good reward rates and a fantastic insurance package.


General Information

You Are Interested If You want a cash back card with above-average performance in terms of both rewards and benefits.
Brief Description The Desjardins Cash Back MasterCard is an accessible cash back card with good benefits that makes it easy to funnel most of your spending into purchases that are eligible for bonus rates.
Main Requirements This card is easy to get and open to nearly everyone with some income and fair credit.

Card Details

Network MasterCard.
Provider Desjardins.
Card Type As the name suggests, this is a cash back card.

Fees and Interest

Purchase Interest Rate The balance on your regular statements will be charged 19.9% in interest.
Cash Advance Taking out extra money in advance will cost you 19.9% in interest.
Balance Transfer Any outstanding balance transfer amounts are charged 19.9% yearly interest too.


Income Requirements You don’t need to make any particular amount to get this card.
Household Income Requirements No specific household income level is required either.
Annual Fee This card is free to have and use.


Welcome Bonus This card does not have a welcome bonus for you at this time.
How To Earn Points Using this card gets you 0.5% cash back normally, but you’ll get 1% back instead if you pay with contactless technology or use pre-authorized debit payments.
Benefits This card provides mobile device insurance, trip cancellation or interruption insurance, some baggage insurance, and most importantly, emergency travel medical insurance.

About Desjardins Cash Back MasterCard

Main Features

The Desjardins Cash Back MasterCard is one of the many entry-level cash back cards available to Canadians. Like most of those, it uses a base cash back rate of just 0.5%, the lowest you’ll usually see on any credit card. However, it becomes much more impressive when you start to look at the bonus categories. In this case, those are determined by spending methods, not spending categories per se. You can get 1% cash back instead if you pay using either a pre-authorized debit transaction (for monthly bills) or contactless payment technology (for regular store purchases).

This is great because it allows you to spend on just about anything and still get the extra cash back – you just have to pay a certain way, and both ways also happen to be more convenient for the customer in most cases too. Even if your budget is very small, you can still make the most of it. Just $1,000 a month in spending ($400 on bill payments made by pre-authorized debit, another $300 made through contactless payments and the last $300 made in standard payments) can produce $8.50 a month in cash back at the max rate, or a respectable $102 a year. The only trouble you may run into is when making large purchases (each vendor has their own limits for using this technology, and they are all fairly low), but you can mitigate this by doing things like making smaller grocery trips more often if you really want to score more rewards for yourself.

Despite the solid rewards value, the benefits will probably be the highlight of this Desjardins Cash Back MasterCard review. This card is exceptional in this aspect, particularly considering that other cards at this price point often come with no benefits at all. It comes with mobile device insurance to ensure you always have your device in working order, baggage insurance to keep your belongings safe, and trip cancellation and interruption insurance to ensure nothing will derail your plans. It even gives you 3 days of emergency travel medical insurance just in case, although it won’t take effect on trips longer than that unless you top it up by buying supplementary insurance from the same provider to cover the whole duration of your stay.


Our Desjardins Cash Back MasterCard review is almost done, and we’ve already covered plenty of its good points. This is one of the most well-rounded basic card options available to Canadians, offering good rewards (as long as you’re careful about purchasing things using the right process) and excellent insurance for its market segment. The only downside is that the rewards are a bit technique-sensitive; shoppers who don’t make a point of using contactless technology as much as possible may find themselves a bit disappointed in their final cash back yield. Nevertheless, since this issue is mostly within the holder’s control, it’s a very minor detractor from an otherwise excellent card.

About Desjardins

Desjardins is one of Canada’s older financial institutions (dating back all the way to 1900), and for many people, they’re also one of the best. Not only does their $282 billion in assets speak for itself, but they have also been named one of the world’s strongest banks by Banker Magazine and are especially popular with young people. They are a dominant presence in the Canadian market right now and will most likely only continue to grow from here.

What We Think

All we can say by this point in our Desjardins Cash Back MasterCard review is that this is a great card overall, and it’s perfect for people who don’t want to make any sacrifices when it comes to their credit cards. It may not be the very best out there at any one thing, but it holds up admirably on all fronts, making it a very solid choice regardless. Unless you have the income or credit you need to get yourself an upgrade, it’s one of the better cash back options you could choose in this country.